U.S., China reach 'phase 1' of trade deal

Both China and the US have scheduled further tariff increases for December and Europe is considering retaliation against any US action

Crucial issues for Washington, such as Beijing's state-run model, digital trade and forced technology transfer, would be addressed later if a limited deal can be signed off, according to the Financial Times.

Trump told reporters that intellectual property theft, currency matters and agricultural purchases are also included in the deal. "However, we will not be fully satisfied until President Trump removes all of the China 301 import taxes hitting American families and American businesses". And China agreed to buy up to $50 billion in USA farm products. That would be a stunning feat, more than doubling from the prior level of less than US$20 billion in 2017.

In retaliation, Beijing began implementing punitive levies of between 5 per cent and 10 per cent on United States products valued at $75 billion, including agricultural products, crude oil and small aircraft.

After more than a year of trench warfare, however, it remained unclear whether the countries could sustain the momentum needed to conclude subsequent "phases" of the deal.

In an Oval Office press conference yesterday, President Trump and China's Vice Premier announced a Phase 1 set of agreements that will be documented over the next several weeks.

But he said he hoped to sign with Chinese leader Xi Jinping when they are both in Chile for the Apec leaders summit in mid November.

The enforcement part of the deal is still being worked out, he said. Officials familiar with the talks say possible outcomes will likely fall short of a sweeping, comprehensive trade deal that Trump has called for.

"For businesses this will mean less damage, not greater certainty", Daco said in a research note. "I will be meeting with the Vice Premier today".

How Mason Rudolph's cart treatment unfolded: Mike Tomlin
Rudolph left last weekend's overtime loss to Baltimore in the third quarter after Thomas hit Rudolph in the chin with his helmet. Rudolph appeared to be knocked out on impact, but later walked off the field with heavy assistance from two of his linemen.

Under the agreement reached after two days of talks in Washington, the United States will not raise tariffs from 25% to 30% on $250 billion worth of Chinese goods, which was initially set to take effect next Tuesday, Oct. 15.

Goldman Sachs said in an analyst note on Thursday morning that the bank expected the White House to slightly delay the implementation of additional tariffs, saying the impeachment "inquiry in the House may lead the White House to avoid further escalation of the trade war".

"The president is acting as if a lot of Chinese concessions have been nailed down, and they just haven't", Scissors said.

Still, Gregory Daco, an economist at Oxford Economics, suggested that the partial nature of the deal won't relieve much of the uncertainty surrounding trade policy that has discouraged many American companies from investing in new equipment and expanding. A private survey found last week that USA factory output dropped in September to the lowest level since the recession year 2009.

Trump launched the trade war against China with demands for sweeping structural reforms, but Beijing has indicated it is not willing to fundamentally change the way it controls China's economy.

Iowa's Republican senators also praised the progress, but noted that same caveat.

Trump's comments were preceded by an announcement from China's securities regulator containing a timetable for removing a requirement on foreign financial companies to have a Chinese investor.

"We are encouraged that the two sides appear to have made genuine progress on a number of critical issues", Brilliant said.

Related News:

13 October 2019

Hard Rock Hotel collapse: 1 dead, 18 injured in New Orleans today
News outlets report construction workers ran to safety as the Hard Rock Hotel, which was under construction, came crashing down. A number of building staff were working on the construction site, with the numbers still being accounted for.

12 October 2019

World of Warcraft to add two new playable races
Recently, news about the World of Warcraft update was revealed which will be called World of Warcraft: Battle for Azeroth . These solo campaigns are centered around potential futures where N'Zoth wins and alters Stormwind and Ogrimmar.

12 October 2019

American Airlines Extends Cancellation of Boeing 737 MAX Flights Until January
Regulators are still reviewing proposed software changes to the grounded plane with no certain timetable for the jet's return. The largest US-based operator of the Max, Southwest Airlines, has removed the aircraft from its schedules through January 5.
13 October 2019

More trouble for Trump on Ukraine
President of Ukraine Volodymyr Zelensky does not see a corruption component in his telephone conversation with U.S. After the record-setting media day - during which Mr.

12 October 2019

Steam's 'Remote Play Together' will give online support to local multiplayer games
Steam is finding a way to take local multiplayer online, apparently recognizing that sometimes couch co-op isn't an option. As the email suggests, all local co-op and split-screen games will automatically support Remote Play Together .

12 October 2019

Industrial output contracts 1.1% in August; manufacturing shrinks
As per the data, electricity generation declined by 0.9 per cent as against an expansion of 7.6 per cent in the year-ago month. A slide in the output of infrastructure goods and consumer durables offers pointers to the underlying weak demand conditions.
12 October 2019

Shots lower chance of contracting flu — CDC
Public Health is reminding the public that like every flu season , vaccines will be first available for high risk populations. During the 2017 to 2018 season, an estimated 79,000 adults and an additional 185 children in America died from the flu.

12 October 2019

Acting Secretary of Homeland Security Kevin McAleenan Resigns
I want to thank the President for the opportunity to serve alongside the men and women of the Department of Homeland Security. He took over in April after Secretary Kirstjen Nielsen quit, and he was the fourth person to lead the department in two years.

12 October 2019

Elizabeth Warren wins praise for zinger response to same-sex marriage question
She said she couldn't be sure what she thought as a kid, and acknowledged that different faiths see things differently. Jesus loves all the children of the world, '" Warren addressed onstage after she was questioned about her own faith.
13 October 2019

Trade, defence, terror: Ten takeaways from Xi-Modi seaside summit
In his response, China President Xi Jinping recalled that the initiative for the informal summit came from Mr. The informal talks were followed by a lunch for the Chinese President, which was hosted by PM Modi.

12 October 2019

Google Pixelbook Go leaked images surface online, reveal ribbed back and more
Other devices set to make their debut next week include a new Nest Mini, a new Nest Wifi, and maybe new Pixel Buds. Ahead of a Google event next week, the company's latest Chromebook, the Google Pixelbook Go, has been laid bare.

12 October 2019

Todd Gurley is doubtful, Aqib Talib out for Rams vs. 49ers
In the midst of a two-game losing streak, the Rams might be without a pivotal piece in a crucial divisional game this weekend. If Gurley is unable to play, expect Malcolm Brown and rookie Darrell Henderson to carry the load at running back for the Rams.